Massive Car insurance costs?

[GravyMonster]

insurers tell me its because they are now getting massive cost increases (from EV's & more cars on the roads than ever before I am guessing!) so everyone has to cough up apparently

That's their scapegoat. But as with every other giant conglomerate at the moment, it's a complete lie to cover yet more corporate greed.

Admiral Group (Admiral) has disclosed a notable 23% surge in its pre-tax profits, climbing to £442.8 million for the year 2023, up from £361.2 million in the preceding year.

Admiral Group reveals significant turnover increase

Executives unveil strategy behind financial success

www.insurancebusinessmag.com

Admiral was the the first hit, but it's a similar story across the board

 

[adam cool dude]

I managed to get my GR86 down to £432 for the year. My original insurer was the cheapest but added £250 voluntary excess to knock 70 quid off. I guess you have to roll the dice sometimes.

There were some comparable quotes but they offered less and had stupid high excess in 500-600 range.

Even still it is a £130 uplift on last years quote albeit the car was only on the policy for 7 months so might have been less.

 

[VincentHanna]

I consider myself quite lucky given what I was just about to fork out!

Tesco were £2000+ for me and I have no points, convictions etc and only 1 insurance claim (which I wasn't at fault for) where a woman drove in to my parked car whilst I was walking the dog.

 

[nlel1975]

Mines gone up this year by £36.05 from £182.04 last year. Not to bad considering some of the horror stories I've read here.

 

[shauncr91]

Yep way better than mine! Over £1300 despite never ever having a single claim in my life! up from just over £700 last year when my RS was brand new .....insurers tell me its because they are now getting massive cost increases (from EV's & more cars on the roads than ever before I am guessing!) so everyone has to cough up apparently

I think I'm getting a decent rate partly because I've been a customer for 8 consecutive years with Greenlight and never made a claim, shame I'll probably be leaving them this year because I want a BMW and they won't touch them regardless of whether it's a 116d or M5.

 

[LiE]

From £568 to £655, not too bad. I’ll call them up and see if there’s wiggle room.

 

[Gilbert89]

I was dreading this years renewal..

Mine went from 423 to 823 last year so this year would have been easily over £1000 which is eye watering.

Thankfully circumstances recently changed and have been able to sell my car and cancel the insurance.

£29.50 Admin Fee It’s absolutely bonkers what we have to simply accept and pay.

 

[Azza]

UK car insurance cost up by third but just 2% in France

Disparity, along with lower increases for car cover in rest of Europe raises questions about motor insurance in Britain

www.theguardian.com

 

[theone8181]

Mines gone up this year by £36.05 from £182.04 last year. Not to bad considering some of the horror stories I've read here.

Still 20% increase though.

 

[adam cool dude]

UK car insurance cost up by third but just 2% in France

Disparity, along with lower increases for car cover in rest of Europe raises questions about motor insurance in Britain

www.theguardian.com

Isn't that a little bit like comparing apples to pears? The UK like a good old monthly rental compared to places like Spain or France when it is more common to buy a car and keep it for years. The UK car market is completely unique to continental Europe as well.

 

[Diagro]

£1050 for 2 cars and house last year.
£1800 this year.

Fml

 

[Maccy]

Friend had his M2 comp nicked from the road last night, suspect it was the key relay tactic. He’s out looking for it but I don’t think he’ll have much luck sadly

 

[Uther]

Friend had his M2 comp nicked from the road last night, suspect it was the key relay tactic. He’s out looking for it but I don’t think he’ll have much luck sadly

Was the key in a Faraday pouch? They tend to stop working after a couple of months apparently, with the constant wear of the key.
I'm guessing his next insurance quote will be very painful.

 

[LuckyBenski]

Was the key in a Faraday pouch? They tend to stop working after a couple of months apparently, with the constant wear of the key.
I'm guessing his next insurance quote will be very painful.

What stops working? The key or the pouch?

 

[Uther]

What stops working? The key or the pouch?

The pouch, the protective layer wears out with the constant taking key in and out. I paid out extra for a Vonnetti box for that reason as I didn't like the reviews for the pouches.
I'd guess most people don't even know it's not working unless they test it out regularly.

 

[tamzzy]

I use a metal tin for my spare key and a proper Faraday box for my main key.
Saved my car a couple of times in the last 3 years.
(Saw video clips of the thieves with their antennas walking around my home lol)

 

[Bint Box]

Friend had his M2 comp nicked from the road last night, suspect it was the key relay tactic. He’s out looking for it but I don’t think he’ll have much luck sadly

Probably already in a container ready to be shipped abroad

 

[Bint Box]

The pouch, the protective layer wears out with the constant taking key in and out. I paid out extra for a Vonnetti box for that reason as I didn't like the reviews for the pouches.
I'd guess most people don't even know it's not working unless they test it out regularly.

Buy some lead flashing from screwfix and coat the outside of a box with it, that aint gonna wear out.

 

[EvilRob]

I thought recent BMW keys stop sending a signal after a few mins of inactivity anyway. Any point having a faraday pouch?

 

[Maccy]

No key wasn’t in a pouch, and it was a 2018 car so I don’t think the key stops emitting a signal after a few minutes.